Triumph Transport acquired by Central States Trucking

Purchase price was $10.1 million

Greeneville, Tennessee-based Forward Air Corp. announced Tuesday that its subsidiary, Bensenville, Illinois-based Central States Trucking Co., has acquired Cudahy-based Triumph Transport Inc. and Triumph Repair Service Inc.

CH Coakley offers third-party logistics services.

The purchase price was $10.1 million, and the transaction was funded by Forward Air’s cash reserves.

Triumph is a provider of intermodal, drayage and related services.

During 2015, Triumph generated approximately $13.4 million in revenue, according to Forward Air Corp. Triumph is expected to be accretive to Forward Air’s earnings in 2016.

“We are pleased to add Triumph to our Intermodal segment,” said Matthew J. Jewell, president of Central States Trucking. “Triumph is a high quality provider of intermodal services and a perfect addition to our Midwest operations. This is the fourth acquisition we have made towards executing our plan to grow our intermodal capabilities and footprint.”

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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